Cornerstone OnDemand Inc. (CSOD) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Cornerstone OnDemand Inc. (NASDAQ:CSOD) have been assigned a consensus rating of “Buy” from the sixteen ratings firms that are covering the company. Four analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $46.14.
A number of research analysts have issued reports on CSOD shares. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $52.00 target price on shares of Cornerstone OnDemand in a report on Monday. Zacks Investment Research raised shares of Cornerstone OnDemand from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Bank of America Corp. reaffirmed a “buy” rating on shares of Cornerstone OnDemand in a report on Sunday, July 17th. First Analysis increased their target price on shares of Cornerstone OnDemand from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, September 6th. Finally, Barclays PLC raised shares of Cornerstone OnDemand from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $32.00 to $44.00 in a report on Friday, July 15th.
Shares of Cornerstone OnDemand (NASDAQ:CSOD) traded down 2.13% during mid-day trading on Thursday, reaching $40.47. The company’s stock had a trading volume of 277,005 shares. The company’s market capitalization is $2.26 billion. Cornerstone OnDemand has a 1-year low of $22.25 and a 1-year high of $47.75. The firm’s 50 day moving average price is $45.02 and its 200-day moving average price is $40.48.
In other Cornerstone OnDemand news, Director R C. Mark Baker sold 4,000 shares of Cornerstone OnDemand stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $46.90, for a total value of $187,600.00. Following the transaction, the director now owns 22,000 shares in the company, valued at approximately $1,031,800. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark Goldin sold 4,062 shares of Cornerstone OnDemand stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $44.70, for a total transaction of $181,571.40. Following the completion of the transaction, the insider now owns 60,511 shares in the company, valued at approximately $2,704,841.70. The disclosure for this sale can be found here. Corporate insiders own 12.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Cornerstone OnDemand by 151.9% in the first quarter. BlackRock Inc. now owns 3,836 shares of the company’s stock worth $126,000 after buying an additional 2,313 shares during the period. Strs Ohio raised its position in shares of Cornerstone OnDemand by 173.3% in the second quarter. Strs Ohio now owns 4,100 shares of the company’s stock worth $156,000 after buying an additional 2,600 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Cornerstone OnDemand by 113.9% in the third quarter. BNP Paribas Arbitrage SA now owns 4,166 shares of the company’s stock worth $191,000 after buying an additional 2,218 shares during the period. Amalgamated Bank bought a new position in shares of Cornerstone OnDemand during the second quarter worth $237,000. Finally, HBK Investments L P bought a new position in shares of Cornerstone OnDemand during the first quarter worth $206,000. Institutional investors own 90.53% of the company’s stock.
Cornerstone OnDemand Company Profile
Cornerstone OnDemand, Inc (Cornerstone) is a provider of talent management solutions delivered as Software-as-a-Service (SaaS). Cornerstone’s Enterprise and Mid-Market solution is a cloud-based suite that addresses needs throughout the entire employee lifecycle, from recruitment, onboarding, training and collaboration, to performance management, compensation, succession planning and analytics.
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